CFOs: Reducing costs on car fleets in your business

CFOs: Reducing costs on car fleets in your business

CFOs: Reducing costs on car fleets in your business

3rd October 2014Run Your Fleet Admin

Reducing Costs in your business

A healthy business making profit and building in an element of growth is generally a desire of most business people. However, problems soon come to the fore if costs are allowed to spiral out of control. If you keep an eye on costs you can not only keep an eye on your budgets you can actually find ways to save money in business. So is it possible to manage elements of your overheads, maintaining efficiency and cutting costs on specifics such as reducing costs on car fleets you run, for example?

Cut out waste

Cutting down on waste can save a great deal of money. For fleet managers, cutting down on waste could mean more fuel efficient journeys. This can be achieved through telematics, better route planning, and efficient and timely servicing of fleet vehicles.

Replacing outdated equipment

Saving money doesn’t seem to go in hand with “speculate to accumulate” but it does in the case of replacing old equipment. Servicing, replacing old parts, and running costs could be adding expense when replacing the equipment could reduce running costs and pay for itself. This applies to fleet vehicles too, and is one of the reasons why leasing fleet vehicles is a popular choice for businesses, both for the short-term and for longer lease terms.

Staff training

A well trained workforce is happier at work, feel more invested in their workplace, and take less time completing tasks. Training company vehicle drivers can improve performance behind the wheel which in turn will lead to less accidents, a reduction in vehicle wear and tear, and increased fuel efficiency due to better driving.

Four ways to save money

When looking for ways to save money and still grow your business, fleet managers keeping an eye on fleet costs can make a real difference to a company’s bottom line. Using a fleet management company is the first step in this – how can we help you?

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About Multifleet

Multifleet Vehicle Management Ltd,is part of the Forward Group PLC's portfolio of businesses - a UK based private equity fund. It is this purchasing scale that enables us to deliver a significant range of benefits to fleets of all sizes through its Fleet Management Service runyourfleet.com